NIC: Nursing care occupancy clocks in at lowest level since 2005
Nursing care occupancy rates remained at 86.8% in the fourth quarter of 2016, according to new data released Monday by the National Investment Center for Seniors Housing & Care.
The group's quarterly seniors housing report found the occupancy rate for nursing care for the end of last year holds steady at the “lowest level since at least 2005.” The annual inventory growth rate for nursing care also remained steady at nearly 0% for the fourth quarter.
Private pay rents for the nursing care sector increased 2.6%, a 0.5 percentage point drop from year-earlier rates that makes for the slowest rent growth since at least 2006, NIC said.
Assisted living occupancy rates fell 0.3 percentage point from the third quarter, leaving the sector at its lowest level of occupancy since early 2010.
Click here to read NIC's full report for the fourth quarter of 2016